https://www.taxtmi.com/caselaws?id=771697 Delhi HC held that an assessee company acting as a mere conduit for routing accommodation entries through banking channels cannot be taxed on unexplained credits under Section 68. The court found the assessee was a pass-through entity operated by accommodation entry operators, with opening and closing balances substantially matching and no cash deposits made. Since the real commission income belonged to the operators and unexplained credits were already taxed in the hands of ultimate beneficiaries, there was no basis for taxing the routing channel. The court dismissed the appeal, finding no substantial questions of law. en-us Fri, 23 May 2025 00:00:00 +0530 Thu, 29 May 2025 08:41:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771697 Delhi HC held that an assessee company acting as a mere conduit for routing accommodation entries through banking channels cannot be taxed on unexplained credits under Section 68. The court found the assessee was a pass-through entity operated by accommodation entry operators, with opening and closing balances substantially matching and no cash deposits made. Since the real commission income belonged to the operators and unexplained credits were already taxed in the hands of ultimate beneficiaries, there was no basis for taxing the routing channel. The court dismissed the appeal, finding no substantial questions of law. Case-Laws Income Tax Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771697